E86: Alliance Founding Partner - The Secret to Winning in Crypto (from a Top Investor)
Sep 5, 2024
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Qiao Wang, Founding Partner of AllianceDAO and co-host of a no-nonsense crypto insights podcast, shares his journey from traditional finance to crypto innovator. He discusses what it takes to be a successful founder and investor, highlighting key traits that lead to triumph in the ever-evolving market. Qiao offers insights on liquid investing, his bullish stance on Solana, and why he sold his ETH. He delves into the balance of investing vs trading while emphasizing the importance of community and emotional resilience in navigating the crypto landscape.
Successful crypto founders exhibit humility, a contrarian mindset, and high integrity, essential for overcoming industry challenges.
Calculated risk-taking in entrepreneurship often stems from familial influences, balancing financial security with the pursuit of innovative ventures.
Community engagement is vital for long-term success in crypto projects, prioritizing user passion over speculative short-term gains.
Deep dives
The Journey into Crypto
Engaging with crypto often begins with a striking moment, usually linked to price fluctuations that capture immediate attention. For many, firsthand experiences during significant market peaks—such as those in 2017—serve as pivotal triggers for deeper exploration into the space. Founders like Chiaowong advocate for the belief that the initial draw, while price-driven, can lead individuals to uncover the broader potential of blockchain technology. This transition from mere speculation to fostering genuine interest in innovative projects is a common path for developing passionate investors and builders in the crypto ecosystem.
Traits of Successful Founders
The discussion emphasizes that essential traits among successful founders include humility, a contrarian mindset, and often a unique perspective shaped by life experiences. Being able to think independently against prevailing narratives is essential for innovation within the crowded crypto space. Furthermore, traits like high intelligence and integrity define leaders who can withstand the pressures of the industry. This combination of characteristics is viewed as crucial not only for securing investment but also for building resilient projects that can thrive through the cyclical nature of the market.
The Importance of Risk and Family
Taking risks is inherent in both personal and professional realms for many entrepreneurs, but it often intertwines with familial responsibilities. Founders like Chiaowong share how upbringing and familial obligations shaped their willingness to take calculated risks in their careers, especially when it comes to launching startups. Secure financial backgrounds encourage bolder entrepreneurial pursuits, while concerns for family may hold potential founders back. This duality reflects the complex emotional drivers behind major life decisions in the high-stakes environment of crypto investment and entrepreneurship.
Lessons from Market Cycles
Navigating the volatile nature of crypto markets involves recognizing patterns and learning from past experiences during different market cycles. For seasoned investors, the differences between holding through decline versus cashing out at peaks highlight the need for improved timing and strategy. Each cycle offers vital learning opportunities that help investors cultivate better judgment in future trades. Consequently, the initiatives taken during these cycles often distinguish the truly enduring projects from those that fail to capture long-term user interest.
Integrity as a Foundational Quality
Integrity is positioned as a non-negotiable trait for successful crypto founders, acting as a multiplier for overall effectiveness in leadership. High intelligence and a strong work ethic can be detrimental if they lack an ethical foundation, which in turn may lead to negative outcomes for a company. Notable examples from the crypto industry illustrate how a lack of integrity among leaders can unravel even the most promising ventures. This underscores the notion that aligning ethical standards with business practices is crucial for sustainable growth and trust within the crypto community.
The Role of Community in Innovation
The emergence of new projects often thrives within supportive and engaged communities that foster innovation from the ground up. Successful platforms frequently prioritize building a solid user base that is genuinely passionate about their offerings before considering monetization or expansion. This community-driven approach shapes product development and acts as a significant indicator of long-term viability. As such, creators are encouraged to focus on user engagement and authentic value creation rather than merely chasing speculative gains.
Qiao Wang is the Founding Partner AllianceDAO, the leading crypto accelerator & founder community. He is also the coHost of @goodgamepod , the no BS insights podcast for crypto founders.
In this conversation, we dive into:
-What It Takes To Be a Great Founder and Investor
-How To Make it Big in Crypto
-Liquid Investing
-Why It's Not Hard to Be Great in 2024
-Why Qiao Sold his ETH and WIF
-Investing VS Trading
-Key Traits to Make it into the Next Alliance DAO Batch
-Autistic Crypto Founders
-Why Qiao is Bullish on Solana
-Skillset of a Succesful Investor
And much more!
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PARTNERS
🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana.
https://jup.ag/
♾️ Astar Network is a Web3 hub for innovation, offering tools and a blockchain platform for decentralized apps and smart contracts. It invites users to innovate and connect in a community-driven ecosystem, transforming ideas into reality with its robust infrastructure.
https://astar.network/
🤖 SwissBorg is Europe’s top trusted crypto app offering user-centric investment platforms and DeFi asset management with reliability and innovation.
Sign up with this link and earn up to €100 : https://join.swissborg.com/r/kevinH6E7
♾ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies.
https://www.coinsilium.com
🍷 Dvin is building the operating system for the $100 billion wine industry.
https://www.dvinlabs.com/
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Follow Qiao Wang
• Twitter: https://x.com/QwQiao
• Website: https://medium.com/@qwqiao
Keep up with Alliance
• Twitter: https://x.com/alliancedao
• Website: https://alliance.xyz/
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DISCLAIMER
The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.
#Entrepreneurship #Crypto #rich
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Video Chapters
0:00 Introduction
1:42 Our Valued Sponsors
2:28 What is your Mission?
3:29 Who is Qiao Wang?
4:02 Life Living with Parents
5:09 Life Leading to Success
7:50 Childhood Impacts
9:54 Support System Leading to Success
10:45 Willingness to Take Risks
11:48 Getting into Crypto
15:20 Conviction to Believe in Solana
22:50 Crypto Growth Valuations
25:14 Excelling as a Crypto Investor
26:56 Personality Traits for Founders VS Investors
28:36 Developing Judgement?
30:08 DVIN Labs Partnership
31:04 Investing VS Trading
33:33 Skills to Excel in Investing/Trading
35:20 Value/Growth Investing in Crypto
38:58 Money Goes Where Their Attention Is
43:43 Crypto Magical Moments
45:43 Qiao Wang Crypto Portfolio
47:03 BTC, ETH, SOL, and Coinbase
48:09 Playing Market Cycles
50:05 Typical Journey of a Crypto Investor
51:28 Real Coins VS Sh*t Coins
55:09 Meme Coins Longevity
58:29 Meme Narrative Over?
1:00:43 Autistic Crypto Founders
1:03:53 Building AllianceDAO
1:06:54 Luca Netz and Pudgy Penguins
1:10:18 Emotionally Married to ETH
1:11:45 Surviving Bear Market as a Founder
1:14:33 Finding a Co-Founder
1:19:00 Importance of Integrity
1:23:58 Money and Fame in Crypto
1:25:14 Motive for Builders and Investors
1:27:25 Weak People Behavior
1:31:49 Tensor Team
1:33:53 Having Kids Impact on Life
1:35:02 Money and Happiness Correlation
1:37:14 Attaining Longevity
1:40:58 Non-Consensus Beliefs
1:44:07 Prediction for the Next 12 Months
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